A Balanced Budget is a financial plan where total revenues are equal to or greater than total expenditures, ensuring no deficits incurred during a particular accounting period.
A budget expenditure head is a method of analyzing a budget and presenting financial statements under major headings, each of which is managed by a particular manager responsible for overseeing the budgeting and control within their area.
Discretionary Costs, also known as Managed Costs, are those costs incurred as a result of managerial decisions where the extent of these costs is subject to managerial discretion. These costs often relate to specific amounts or follow a pre-determined formula, such as a percentage of sales revenue. Examples include advertising and research expenditure.
Federal legislation passed in 1985, aimed at reducing the United States federal budget deficit through automatic spending cuts if predefined deficit targets are not met. Officially titled the Balanced Budget and Emergency Deficit Control Act of 1985.
Software designed to facilitate and integrate key tasks in the management of a large project. These typically include scheduling, critical-path analysis, budget control, and administrative support. A good system is integrated and dynamic, allowing assessment of total knock-on effects of any departures from the original plan in key areas such as budgeting and scheduling as the project evolves.
